Now’s the Time to Begin Your 2015 Tax Planning

Now’s the Time to Begin Your 2015 Tax Planning

Whether you filed your 2014 income tax return by the April 15 deadline or filed for an extension, you may think that it’s a good time to take a break from thinking about taxes. But doing so could be costly. Now is actually the time you should begin your 2015 tax planning — if you haven’t already.

A tremendous number of variables affect your overall tax liability for the year, and starting to look at these variables early in the year can give you more opportunities to reduce your 2015 tax bill. For example, the timing of income and deductible expenses can affect both the rate you pay and when you pay. By regularly reviewing your year-to-date income, expenses and potential tax, you may be able to time income and expenses in a way that reduces, or at least defers, your tax liability.

In other words, tax planning shouldn’t be just a year end activity. To get started on your 2015 tax planning, give us a call. We can discuss what strategies you should be implementing now and throughout the year to minimize your tax liability.

Searching for an audit, tax and accounting partner that can provide freedom from financial anxiety? Gilbert has it all… pinpoint expertise, experience-driven insights, lightning-fast responsiveness and personalized communications. Our solutions turn knowledge into power. And we’ve been doing it for over 30 years, helping individuals and organizations throughout Northern California succeed. When it comes to the personal attention and service we offer, nobody does it better. You don’t have to worry. Relax. We got this!

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